Shiv Nadar Ponders Exit From IT Firm; Daughter Not Interested in Assuming Mantle

MUMBAI—The billionaire founder of HCL Technologies Ltd. is sounding out buyers for his $10 billion stake in India's fourth-largest software and outsourcing firm, according to two people briefed on the matter, in what could be the biggest sale ever of an Indian company.

The smallest and youngest of India's big four information technology groups, HCL was founded by Shiv Nadar in 1991. Mr. Nadar has received bids for HCL in the past but has consistently said he has no plans to sell. But now, the 69-year-old businessman is...